Allbirds (NASDAQ:BIRD) Shares Up 8.4%

Shares of Allbirds, Inc. (NASDAQ:BIRD) were up 8.4% during trading on Wednesday . The company traded as high as $12.23 and last traded at $11.90. Approximately 14,737 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 55,553 shares. The stock had previously closed at $10.98.

Allbirds Stock Down 4.9 %

The company has a market capitalization of $2.04 billion, a P/E ratio of -13.81 and a beta of 1.79. The business has a 50 day simple moving average of $12.66 and a 200-day simple moving average of $12.96.

Allbirds (NASDAQ:BIRD) last posted its earnings results on Wednesday, August 7th. The company reported ($2.40) EPS for the quarter, topping the consensus estimate of ($3.60) by $1.20. The firm had revenue of $51.58 million during the quarter, compared to analysts’ expectations of $50.34 million. Allbirds had a negative net margin of 61.24% and a negative return on equity of 61.22%. During the same quarter in the prior year, the firm earned ($3.60) EPS. Equities analysts forecast that Allbirds, Inc. will post -12.2 EPS for the current fiscal year.

Insider Activity

In other Allbirds news, Director Timothy O. Brown sold 2,500 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $11.80, for a total transaction of $29,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Timothy O. Brown sold 2,500 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $11.80, for a total transaction of $29,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joseph Vernachio sold 2,367 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $12.00, for a total transaction of $28,404.00. Following the sale, the chief executive officer now directly owns 43,536 shares of the company’s stock, valued at $522,432. The disclosure for this sale can be found here. Insiders sold 5,742 shares of company stock worth $68,404 over the last three months. Corporate insiders own 45.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BIRD. Laidlaw Wealth Management LLC acquired a new stake in Allbirds during the 4th quarter worth about $751,000. CastleKnight Management LP acquired a new position in Allbirds in the 4th quarter valued at approximately $348,000. Coldstream Capital Management Inc. purchased a new stake in Allbirds in the 4th quarter worth approximately $274,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Allbirds during the 2nd quarter valued at $65,000. 44.07% of the stock is owned by hedge funds and other institutional investors.

Allbirds Company Profile

Allbirds, Inc manufactures and sells footwear and apparel products for men and women in the United States and internationally. The company offers a range of lifestyle and performance shoes; and apparel, including classic tees and sweats, socks, and underwear. It sells its products through its retail stores, as well as online.